Micron Technology Inc. (NASDAQ:MU), Varian Medical Systems Inc. (NYSE:VAR)

Micron Technology Inc. (NASDAQ:MU), Varian Medical Systems Inc. (NYSE:VAR)

The shares of Micron Technology Inc. (NASDAQ:MU) has been pegged with a rating of Neutral by Goldman in its latest research note that was published on April 13, 2020. The Technology company has also assigned a $49 price target. Goldman wasn’t the only research firm that published a report of Micron Technology Inc., with other equities research analysts also giving their opinion on the stock. The stock had earned Buy rating from Needham Markets when it published its report on March 26, 2020. That day the Needham set price target on the stock to $63. The stock was given Neutral rating by Robert W. Baird in its report released on March 02, 2020, the day when the price target on the stock was placed at 55. BofA/Merrill was of a view that MU is Underperform in its latest report on February 25, 2020. UBS thinks that MU is worth Buy rating. This was contained in the firm’s report on February 12, 2020 in which the stock’s price target was also moved to 75.

Amongst the analysts that rated the stock, 1 have recommended investors to sell it, 6 believe it has the potential for further growth, thus rating it as Hold while 27 advised investors to purchase the stock. The consensus currently stands at a Buy while its average price target is $60.40. The price of the stock the last time has raised by 33.02% from its 52-Week high price while it is -32.33% than its 52-Week low price. A look at the stock’s other technical shows that its 14-day RSI now stands at 41.63.

The shares of the company dipped by -4.59% during the trading session on Tuesday, reaching a low of $41.185 while ending the day at $41.41. During the trading session, a total of 32.48 million shares were traded which represents a -3.94% decline from the average session volume which is 31.25 million shares. MU had ended its last session trading at $43.40. Micron Technology Inc. debt-to-equity ratio currently stands at 0.15, while its quick ratio hovers at 1.80 MU 52-week low price stands at $31.13 while its 52-week high price is $61.19.

The company in its last quarterly report recorded $0.39 earnings per share which is above the predicted by most analysts. The Micron Technology Inc. generated 7.12 billion in revenue during the last quarter. In the second quarter last year, the firm recorded $0.42 earnings per share. Compared to the same quarter last year, the firm’s revenue was down by -156.41%. Micron Technology Inc. has the potential to record 1.87 EPS for the current fiscal year, according to equities analysts.

Investment analysts at Goldman published a research note on April 01, 2020 where it informed investors and clients that Varian Medical Systems Inc. (NYSE:VAR) is now rated as Neutral. Their price target on the stock stands at $114. Goldman also rated VAR as Initiated on February 13, 2020, with its price target of $171 suggesting that VAR could surge by 22.6% from its current share price. Even though the stock has been trading at $112.04/share, analysts expect it to down by -7.09% to reach $134.50/share. It started the day trading at $109.43 and traded between $103.67 and $104.10 throughout the trading session.

A look at its technical shows that VAR’s 50-day SMA is 118.06 while its 200-day SMA stands at 124.56. The stock has a high of $150.06 for the year while the low is $89.62. The stock, however, witnessed a rise in its short on 03/31/20. Compared to previous close which recorded 2.11 M shorted shares, the short percentage went higher by 17.73%, as 2.48M MU shares were shorted. At the moment, only 2.74% of Varian Medical Systems Inc. shares were sold short. The company’s P/E ratio currently sits at 34.04, while the P/B ratio is 5.12. The company’s average trading volume currently stands at 894.00K shares, which means that the short-interest ratio is just 2.77 days. Over the past seven days, the company moved, with its shift of -7.63%. Looking further, the stock has dropped -29.70% over the past 90 days while it lost -9.18% over the last six months.

The change in the stock’s fortunes has led to several institutional investors altering their holdings of the stock. The The Vanguard Group, Inc. sold more VAR shares, decreasing its portfolio by -1.34% during the last quarter. This move now sees The The Vanguard Group, Inc. selling -133,509 shares in the last quarter, thus it now holds 9,858,132 shares of VAR, with a total valuation of $1,012,035,831. BlackRock Fund Advisors meanwhile sold more VAR shares in the recently filed quarter, changing its stake to $538,202,442 worth of shares.

Similarly, SSgA Funds Management, Inc. increased its Varian Medical Systems Inc. shares by 0.18% during the recently filed quarter. After buying 4,219,693 shares in the last quarter, the firm now controls 7,576 shares of Varian Medical Systems Inc. which are valued at $433,193,683. In the same vein, Loomis, Sayles & Co. LP increased its Varian Medical Systems Inc. shares by during the most recent reported quarter. The firm sold 1,283,980 shares during the quarter which increased its stakes to 3,285,359 shares and is now valued at $337,274,955. Following these latest developments, around 0.20% of Varian Medical Systems Inc. stocks are owned by institutional investors and hedge funds.

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